Article - Corporate Branding is Crucial | XCO Group
07 Jun 2019
Corporate Branding is Crucial To Your Business. Learn Why!
Just like every other business, your main aim is to maximise your brand visibility and to reach better sales, but do you even know how much your brand is worth, or does your target market even know that your brand exists? In business and marketing, your brand is everything. It is the core of your existence. It is what people say about you when you are not in the room. It is what people tell their friends and family about your business.
If you are a small business, then you are one of many in a large ocean that is competing against the bigger brands with an unlimited marketing budget. According to statistics, six out of ten new businesses fail within the first three years, which is why if you want to thrive and survive in the competitive world of business, then you need to do more than just provide a good service or product. You need to invest in your corporate brand.
Stronger Brands Usually Mean Better Sales
In business, your brand is everything. Not only is it your biggest selling point, but it needs as much exposure as it can get. Whether your business is new, old, big, small or in between, the right branding can make or break you. Your brand is not just about your logo, but a strategic way of highlighting what makes your products or services more desirable than anyone else’s. It is your voice, values, mission, marketing, and presence. It is the reason people will choose you over others. A trusted, recognisable brand is one of the most valuable assets a business can own. You see, clients typically do business with brands they share values with. Many consumers prefer to buy new products from brands familiar to them.
You Can Stand Out in a Saturated Market
An established and clear brand will make you look like an expert. As the face of your brand, and as the first point of contact, your brand’s ability to differentiate you in the marketplace determines its equity. First impressions are everything, and a good brand has a clear purpose and will help you stand out among other people in your field. The more recognition you receive and the more you invest in your corporate image, the more you gain the competitive edge over the competition.
Shapes Credibility and Fosters Loyalty
A strong, well-known brand enhances your credibility with customers and fosters loyalty. Think about it: two brands launch a new product. One brand is a trusted, recognisable brand that has invested heavily in its branding; the other is a relatively new brand that is cheaper, but unrecognisable. It makes no difference how cheap the new brands’ product is because if consumers do not recognise or trust them, they will avoid it. Consumers are only loyal to brands they share values with and will not think twice about trying their new product as soon as it hits the shelves, ghosting the unrecognisable products.
It Provides an Excellent ROI
With a clear brand, you can charge what you are worth. There is no better feeling than having complete confidence in your brand. When people see you are confident in your products or services, they will be more likely to trust you and your expertise. Branding lays the foundation to enter new markets and increase profits, bringing big investments for future generations.
Cutting across services, products, employees, corporate culture, and corporate social responsibility, branding is everywhere. Corporate branding is the key to success. It differentiates your company from your competition and makes your business unique. A recommended way of improving the image of your company, increasing brand awareness, slashing your advertising bill in half, and setting a foundation as you move forward with your business, corporate branding offers businesses some powerful benefits that cannot be denied.
Defining your brand is like a journey of business self-discovery. It can be tough and time-consuming, but that is why we are here to help. At XCO Group, we believe that branding is an art and best left to the professionals. Chat to us to learn how we can help you communicate your message and take your brand to new heights.